News
Minister Cabraal dismisses calculations made by MP Hashim
Suggests he gets some coaching from Harsha de Silva, who knows subject
By Saman Indrajith
Money and Capital Market and State Enterprise Reforms State Minister Ajith Nivard Cabraal told Parliament yesterday that as at the end of December 2019 total loans granted by the Central Bank to all banks for pawning advances stood at Rs. 210 billion and at the end of September 2020 it had increased by 27 billion to Rs. 237 billion.
Participating in the debate on the 2020 Appropriation Bill, the Minister dismissed the figures presented by SJB MP Hashim as being inaccurate and demanded to know where the latter had obtained the misleading information from.
MP Kabir Hashim during his speech said that it was a clear indication of the failure of the government that people had pawned jewelleries to the tune of Rs. 643 billion.
Minister Cabral said by the end of December 2019 the credit card payments stood at Rs. 131 billion but had dropped by Rs. 25 billion to Rs.126 billion. “Therefore, I urge MP Kabir Hashim to get his facts right and perhaps get some expert advice on such matters by someone like MP Harsha de Silva, who knows this subject.”
The State Minister said that the year 2020 had been a very difficult and uncertain year for the country. “For over half the year we had a minority government and during the major part of the year we were speculating on whether an election could be held. The whole world was facing difficulties with the pandemic wreaking havoc. It was only after the formation of the new government that we were able to formulate a clear policy and delegate responsibilities.
Therefore, we have been able to move forward with a clear vision during the last three months,” he said.
The Minister said that the government had faced many challenges during the first three quarters of this year apart from the Covid pandemic, due to the mismanagement and misdeeds of the previous government over the past five years.
“During the past five years under the previous regime, the 6.3 per cent growth rate we maintained from 2010 to 2014 had dropped to 2.3 per cent
For the first time in 2019 the per capita income fell by USD 227 under the yahapalana government. Now, they are trying to discredit us by claiming that the country is in a debt trap. They are hoping for the fall of the government, but they will be disappointed; we will not their dream come true.”
Minister Cabral said that the debt burden was measured as a percentage of the GDP and in 2005, it stood at 91 per cent. “However, our government had reduced it to 70 per cent by 2014 and after the Yahapalana government took over they increased it back to 87 percent. This happened as they had increased the foreign debt by 49 per cent. They increased the short term loans within a short period and now we are tasked with rectifying their mistakes. The previous government paid Rs. 1,430 billion more than we did in debt interest within their five year tenure.”
Cabraal add that the previous regime had also managed to devalue the rupee and now the present government had to pay for its predecessor’s sins.
He said that the government was committed to steering the country on a path of progress and urged all MPs to cast aside their political differences and support the passage of the Appropriation Bill.
News
Fuel crunch looms
Govt. tells fuel distributors to maintain stocks to ensure uninterrupted supplies
by Saman Indrajith and Norman Palihawadane
The government had instructed private fuel distributors to maintain minimum stocks and ensure uninterrupted supplies to the market, Energy Minister Anura Karunathilaka told Parliament yesterday (06).
Karunathilaka said the Ministry of Energy Secretary had notified the relevant companies of the requirement, following a reduction in supplies by some private distributors, amid higher international fuel prices.
The Minister said private companies had informed the government that they were facing losses because international prices had risen while fuel was being sold, locally, at prevailing prices. As a result, some companies had reduced the volumes released to the market.
The reduced supplies had increased the burden on the Ceylon Petroleum Corporation (CPC), whose share of the diesel market had risen from about 54% to 82%, the Minister said.
“The CPC currently holds an 82% share of the market,” he said, adding that it had increased its supplies, compared with February, to compensate for the reduction by private distributors.
Karunathilaka said the government could not, under the existing agreements with private companies, specify the quantities they should supply to individual filling stations. However, it could require them to maintain minimum stocks in the country.
The Minister said the Energy Ministry had already instructed companies that had failed to maintain the required stocks to take steps to prevent supply disruptions.
The Minister attributed the queues reported at some filling stations to reduced supplies from private distributors, as well as normal variations in fuel distribution. He also said demand for CPC fuel had increased because private companies generally did not provide fuel to dealers on credit, while the CPC offered a three-day credit facility.
“We expect that, as the Ceylon Petroleum Corporation takes on this additional burden, the problem will ease to some extent by Wednesday or Thursday,” Karunathilaka said.
He said instructions had also been issued to increase supplies to CPC filling stations. A special discussion on the issue is scheduled for today (07), with officials of the Energy Ministry and CPC expected to participate,
along with President Anura Kumara Dissanayake.
Meanwhile, Petroleum Dealers’ Association officials have called for an early solution to the supply issue. Association Chairman D.V. Shantha Silva said queues had been reported at many filling stations, mainly those operated by private distributors.
He said the situation was not due to an overall shortage of fuel, but was linked to reduced orders by Lanka IOC, Sinopec and R.M. Parks amid concerns over losses incurred on fuel sales.
The Ceylon Petroleum Private Tanker Owners Association has urged motorists to refrain from panic buying, saying there was no nationwide disruption to fuel supplies.
The government earlier increased fuel prices and introduced a per-litre diesel subsidy following concerns raised by distributors over rising international prices.
News
Gnansara Thera to be assigned to prison printing section: Officials
by Norman Palihawadane
Bodu Bala Sena General Secretary Ven. Galagodaatte Gnanasara Thera, who has been ordered by the court to serve the remainder of his prison sentence, is to be assigned to the prison ‘printing work party’, prison officials said yesterday.
The monk was produced before the Colombo High Court yesterday by prison officials in connection with a warrant issued by the court.
He appeared before the court in civilian attire.
Prison sources said arrangements were being finalised for his detention and that he would subsequently be assigned to the printing work party.
The Thera initially objected when prison officials instructed him to change from his robes into the attire worn by convicted prisoners.
He later agreed to wear the prescribed prison clothes, sources said.
The Supreme Court, in September, annulled the presidential pardon granted to Gnanasara Thera in 2019. He had been serving a six-year prison sentence imposed following his conviction for contempt of court but had served only about nine months when then President Maithripala Sirisena granted him a presidential pardon in May 2019.
Following the Supreme Court ruling, the Thera was required to serve the remainder of his sentence. He was subsequently reported missing, prompting the Court of Appeal to issue an open warrant for his arrest.
The Court of Appeal on Monday ordered the authorities to enforce the remainder of his prison sentence.
News
Speaker rejects Ajith Perera’s privilege complaint
Speaker Dr. Jagath Wickramaratne yesterday ruled that a privilege complaint submitted by SJB Kalutara District MP Ajith P. Perera did not constitute a prima facie breach of parliamentary privilege.
The ruling was made in response to a notice of privilege submitted by Perera on October 02.
Perera alleged that his parliamentary privileges had been breached over the failure to take formal action or reach a final decision on a written request submitted on August 03 by 18 Opposition MPs seeking the appointment of a Special Select Committee to investigate delays in the judicial system and prison overcrowding.
He had also requested that the matter be referred to the Committee on Ethics and Privileges for investigation and recommendations.
In his ruling, Speaker Wickramaratne said the Speaker, as the Presiding Authority and guardian of the powers, rights and privileges of Parliament, could not be subjected to a privilege complaint or disciplinary inquiry by a committee subordinate to the Chair in respect of actions taken in an official capacity.
He said that, under the Standing Orders, the Speaker was required to independently determine whether a prima facie case of breach of privilege existed.
Referring a complaint against the Speaker to a committee functioning under the Speaker’s authority would, therefore, create a procedural contradiction, he said.
Accordingly, the Speaker ruled that Perera’s notice did not constitute a prima facie breach of parliamentary privilege and disallowed the request to refer the matter to the Committee on Ethics and Privileges.
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